Marriott Declares Stock Dividend
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Marriott Declares Stock Dividend
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Category: Worldwide - Industry economy
- Figures / Studies
This is a press release selected by our editorial committee and published online for free on 2009-08-07
Marriott International, Inc., “Marriott,” (NYSE: MAR) today announced that its board of directors has declared the issuance of a stock dividend of 0.00379 per share of common stock for each outstanding share of common stock of the company, payable on September 3, 2009 to shareholders of record on August 20, 2009. Marriott currently has approximately 354 million shares of common stock outstanding.
In lieu of fractional shares, cash will be distributed to each shareholder who would otherwise have been entitled to receive a fractional share, based on a share price of $23.10, which is the average of the high and low share price on August 5, 2009.
Shareholders will not be required to take any action in order to receive the stock dividend. After the payment date, shareholders’ book entry accounts will be credited with the additional shares representing the stock dividend. Where shares are held in a brokerage account in the name of a broker, the additional shares will be distributed to the broker on the shareholder’s behalf. The stock dividend is administered by BNY Mellon Shareowner Services, the company's transfer agent.
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